steps of calculation when it is required.

1. Consider the following abbreviated financial statements for Barrie Enterprises:

BARRIE Enterprises

2014 and 2015 Partial Statement of Financial Position

	Assets		Liabilities and Owners Equity
	2014	2015	2014 2015
Current assets	$ 914	$ 990	Current liabilities $ 365 $ 410
Net fixed assets	3,767	4,536	Long-term debt 1,991 2,117

BARRIE Enterprises

2015 Income Statement

Sales	$ 11,592
Costs	5,405
Depreciation	1,033
Interest paid	294

1. what is owners equity for 2014 and 2015?

2. What is the change in net working capital for 2015?

3. In 2015, Barrie Enterprises purchased $1,890 in new fixed assets. How much in fixed assets did Barrie Enterprises sell?

4. In 2015, Barrie Enterprises purchased $1,890 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.)

5. During 2015, Barrie Enterprises raised $378 in new long-term debt. How much long-term debt must Barrie Enterprises have paid off during the year?

6. During 2015, Barrie Enterprises raised $378 in new long-term debt. What is the cash flow to creditors?

2. Our new computer system cost us $100,000. We will outgrow it in five years. When we sell it, we will probably get only 20 percent of the purchase price. CCA on the computer will be calculated at a 30 percent rate (Class 10).

1. Calculate the CCA and UCC values for five years. (Round the final answers to 2 decimal places.)

2. What will be the after-tax consequence from the sale assuming the computer system finally sold for $10,000 and the asset class closed? Assume a 40 percent tax rate.

3. The Stayner Company experienced an operating loss of $4,100,000 in 2012. Taxable income figures for recent years are given below.

	2009	2010	2011 2012 2013	2014	2015
Taxable income ($000)	$116	$140	$168 ($600) $40	$40	$40

Determine the remaining carry-forward if the firm can maximize its tax refunds. (Enter your answer in thousands.)